FILE PHOTO: An investor looks at a screen showing stock board at a securities company in Hanoi, Vietnam July 6, 2018. Picture taken July 6, 2018. REUTERS/Kham/File PhotoHANOI: Vietnam is readying the launch next week of a new stocks trading system that would speed up settlement of transactions, as part of reforms aimed at upgrading the country's stock market and attracting more foreign investors.
A new stock trading system provided by the Korea Exchange has been tested for months and is expected to go live on May 2 after securities companies complete the switchover from the old system during a five-day public holiday period starting at the closing of business on Apr 26, according to a document sent to brokers by Vietnam's main Ho Chi Minh City exchange and seen by Reuters.
Last year the World Bank estimated that upgrades could trigger net inflows of between US$5 billion and US$25 billion to the US$200 billion market by the end of the decade. Vietnam's benchmark stock index has risen 4.5 per cent so far in 2024 but this month fell by more than 7 per cent.